One way to avoid confusion (and perhaps some argument) when a receiver steps/goes OOB, and then returns in-bounds and participates, is to bag the spot where he went OOB, and flag where he participates after coming back. Whether you choose to flag for IS (without any "participation") is a judgment call based on advantage/disadvantage.
I would suggest not throwing the beanbag (equivalent to throwing a Hat in NCAA only) simply because you have now recognized the player went OOB. Going OOB is NOT a foul! Therefore that spot means absolutely nothing other than notifying the coach that you saw him go OOB.
Returning is (by rule) a foul for IP and it could be enforced from where the player returned.
However, we instruct officials
NEVER to throw a Hat or a Bean Bag and NOT to throw that flag unless the player actually participates and/or influences the play.
Think it out, If you throw a Bean Bag and he comes back in, however, you choose not to throw a flag, how do you explain the bean bag to a rule savy coach?
If you don't throw a Bean Bag and he comes back in and you choose not to throw, you can easily say
"if he stepped on the line coach I missed it!"